BULLETIN OF ECONOMICS AND STATISTICS.

This section presents abstracts of articles on trade and transportation published in the May 1965 issue of the journal Bulletin of Economics and Statistics. The article The Malawi-Rhodesia Trade Agreement, by Arthur Hazlewood argues that the agreement provides for too small a fiscal payment because it reflects fallacious reasoning about the likely effect of the imposition of customs duties. Moreover, the paper titled The Long and the Short of Transport, by A. A. Walters discusses that although welfare theory, on the usual assumptions, requires a nationalised industry to charge prices which are equal to short run marginal cost, most practical work has been done in terms of some long run concept. On the other hand, the article Some Notes on Road Transport Costs, by A. J. Harrison presents data on the structure of road haulage costs in Great Britain, trends over the last 15 years in total costs and in individual cost items and on the incidence of taxation. The data is presented for light, medium and heavy vehicles and for both rigid and articulated units. The data on cost trends are compared with observed trends in the composition of the vehicle fleet, and the question of the projection of future cost levels is briefly considered.